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Blockchain Data Warehouse Space and Time Raises $20M Series A to Accelerate Development of AI Tools
The funding round, which brings Space and Time's total backing to $50 million, was led by Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital
Updated Aug 27, 2024, 8:59 p.m. Published Aug 27, 2024, 4:58 p.m.
, a blockchain-native data warehouse that incorporates artificial intelligence (AI) tools to build applications using its data, has raised $20 million in Series A funding.
The funding round, which takes SxT's total backing to $50 million, was led by Framework Ventures, Lightspeed Faction, Arrington Capital and Hivemind Capital, according to an emailed announcement on Tuesday.
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The company's aim is to decentralized ownership of the data which powers AI-based applications, thus preventing a few powerful entities from dominating the sector.
SxT's network comprises data collected from the major blockchains such as Bitcoin and Ethereum, off-chain datasets with a zero-knowledge coprocressor which processes the data at scale.
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The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
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- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
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- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
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